HEARTCORE ENTERPRISES INC - HTCR STOCK NEWS

HeartCore Enterprises, Inc. has made significant strides in its Go IPO consulting service, recently signing agreements with Libera Gaming Operations and ICheck Co., Ltd. Following a successful partnership with SBC Medical Group Holdings, the company expects to receive approximately $32.4 million in warrants. SBC, valued at $1.2 billion, compensates HeartCore with $900,000 in fees and warrants for 2.7% of its stock. For Libera and ICheck, HeartCore anticipates generating $600,000 in fees and a warrant to acquire 3% of each company’s common stock. CEO Sumitaka Yamamoto expressed confidence in the value of these warrants, emphasizing the potential for future growth.

HeartCore Enterprises, a leading software development company, will present at the Sidoti & Co. Small-Cap Conference on March 22-23, 2023. The management is scheduled to present on March 23 at 12:15 p.m. Eastern time, with virtual one-on-one meetings available throughout the event. The presentation will be webcast live, and interested parties can schedule meetings by emailing HTCR@gatewayir.com. HeartCore specializes in Customer Experience Management platforms, digital transformation solutions, and provides data analytics services to enhance client engagement.

HeartCore Enterprises, Inc. will showcase its latest products, including the truRes-12K virtual reality camera, at the 2023 South by Southwest (SXSW) Conference in Austin, Texas from March 12-15. This event expects over 40,000 attendees and focuses on networking and collaboration in technology and creative industries. HeartCore aims to engage with potential partners and customers through demonstrations and discussions at booth number 425. CEO Sumitaka Yamamoto expressed enthusiasm about showcasing innovations and interacting with the audience, highlighting the company’s focus on leveraging opportunities in 2023.

HeartCore Enterprises has finalized its acquisition of a 51% stake in Sigmaways, enhancing its software engineering capabilities across the U.S. Sigmaways, which saw a 48% revenue increase in FY 2022 to $12.9 million, enables HeartCore to expand its customer base and operational footprint. This acquisition is expected to lower development costs and provide cross-selling opportunities between both companies. In exchange for the stake, HeartCore issued 2 million shares, $1 million in cash, and a warrant for additional shares while integrating key personnel from Sigmaways into its management structure.

HeartCore Enterprises, a leading software development company, has signed a Consulting Agreement with kk.BloomZ and a Japanese healthcare company to assist in a Go IPO initiative. This marks the company's sixth and seventh Go IPO consulting wins, aimed at helping clients list on Nasdaq. HeartCore expects to earn $500,000 in initial fees and has received a warrant for 4% equity in BloomZ. CEO Sumitaka Yamamoto expressed optimism about the company's strong pipeline of interest from Japanese firms seeking entry into the U.S. market, indicating potential financial benefits from these agreements.

HeartCore Enterprises has integrated its CMS into Subaru Group's platform, consolidating around 100 Subaru websites. This enhancement aims to strengthen internal web governance and ensure the safety and security of digital infrastructure. The move aligns with Subaru's commitment to improving online governance.

HeartCore continues to promote its CMS as a solution for companies looking to streamline their content management processes.

HeartCore Enterprises has partnered with Spirit Advisors LLC to enhance its Go IPO service, aiming to streamline the IPO process for Japanese companies seeking U.S. exchange listings. This collaboration has already signed over 10 firms and is expected to expand service offerings, including interim CFO and financial advisory. CEO Sumitaka Kanno described this partnership as a significant milestone, targeting increased client acquisition in 2023. HeartCore provides SaaS solutions and operates a digital transformation business, significantly impacting its capability to support IPO processes.

HeartCore Enterprises has signed a Consulting Agreement with SBC Medical Group to assist in SBC's public listing on the Nasdaq. This agreement marks HeartCore's fifth Go IPO consulting service within eight months. The partnership is expected to generate $900,000 in initial fees for HeartCore, along with a warrant for 2.7% of SBC Medical’s common stock. The CEO noted a growing interest from Japanese companies in U.S. markets, highlighting a positive trend for HeartCore's consulting services aimed at facilitating capital market journeys.

HeartCore Enterprises reported a significant revenue decline of 46% year-over-year, with Q3 revenues at $1.9 million compared to $3.5 million in Q3 2021. This drop resulted from reduced sales of on-premise software and the previous year's revenue recognition from a major customer renewal. Operating expenses rose to $2.3 million, leading to a net loss of $2.0 million or $(0.11) per diluted share. Despite these challenges, HeartCore increased its global enterprise customers to 889 and signed a definitive agreement to acquire a 51% stake in Sigmaways to strengthen in-house software development.